Minister of Solid Minerals, Mines and Steel, Dr. Kayode Fayemi has explained that Ajaokuta Iron and Steel Company situated in Kogi State, North Central Nigeria, may not work anytime soon contrary to expectations of Nigerians.
He stated this during the joint budget defense of the Senate and House of Representatives on Power, Steel Development and Metallurgy in Abuja.
Fayemi who appeared with heads of Parastatals under his ministry noted that the current administration has made tremendous achievements in re-positioning mines and Steel sector, but regretted that Ajaokuta was still bound by legal hiccups.
While answering questions on the specific time the Ajaokuta would work, he said: “Distinguished, I cannot answer this question with precision until the London Court of Arbitration has fully discharged the case out of court.”
The Minister also said the Federal government has sought out of court settlement between it and the concessionaire, saying it was been withdrawn gradually.
He regretted that for legal reasons, about 110 megawatts electricity which was capable of electrifying the entire Kogi State was unutilised.
Member of the Committee, Senator Sabi Abdullahi expressed discontent with the budget performance of the ministry for 2017, saying, the release of capital Budget was delayed.
